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Frank Nelson Limited
Registered Number:04760943
For the year ended 31 May 2023
England and Wales
Unaudited Financial Statements
2
For the year ended 31 May 2023
Frank Nelson Limited
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
3
Registered Number :
04760943
As at 31 May 2023
Frank Nelson Limited
Statement of Financial Position
£
£
2022
2023
Notes
Fixed assets
Property, plant and equipment
79
105
3
79
105
Current assets
Inventories
1,300
1,300
4
Trade and other receivables
1,380
350
5
5,649
Cash and cash equivalents
7,756
9,406
8,329
Trade and other payables: amounts falling due within one year
(2,778)
(3,922)
6
5,551
5,484
Net current assets
Total assets less current liabilities
5,563
5,656
5,563
Net assets
5,656
Capital and reserves
Called up share capital
2
2
Retained earnings
5,561
5,654
5,563
5,656
Shareholders' funds
For the year ended 31 May 2023 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each
financial year and of its profit or loss for each financial year in accordance with the requirements of Section 394 and 395 and
which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable
to the company.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Frank Richard Nelson Director
These financial statements were approved and authorised for issue by the Board on 18 March 2024 and were signed by:
The notes form part of these financial statements
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4
For the year ended 31 May 2023
Frank Nelson Limited
Notes to the Financial Statements
Statutory Information
Frank Nelson Limited is a private limited company, limited by shares, domiciled in England and Wales, registration number
04760943.
Registered address:
7 Banks Avenue
Meols
Wirral
CH47 0NG
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial Reporting Standard
102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The
financial statements have been prepared under the historical costs convention as modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of 4 years.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and machinery
25% Reducing balance
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
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5
For the year ended 31 May 2023
Frank Nelson Limited
Notes to the Financial Statements Continued
2. Intangible fixed assets
Goodwill
Cost or valuation
£
At 01 June 2022
10,000
At 31 May 2023
10,000
Amortisation
At 01 June 2022
10,000
At 31 May 2023
10,000
Net book value
At 31 May 2023
-
At 31 May 2022
-
3. Property, plant and equipment
Plant and
machinery
£
Cost or valuation
At 01 June 2022
13,976
At 31 May 2023
13,976
Provision for depreciation and impairment
At 01 June 2022
13,871
Charge for year
26
At 31 May 2023
13,897
At 31 May 2023
Net book value
79
At 31 May 2022
105
4. Inventories
2022
2023
£
£
Stocks
1,300
1,300
5. Trade and other receivables
2022
2023
£
£
Trade debtors
350
1,380
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6
For the year ended 31 May 2023
Frank Nelson Limited
Notes to the Financial Statements Continued
6. Trade and other payables: amounts falling due within one year
2022
2023
£
£
Trade creditors
1,550
1,161
Taxation and social security
807
645
Other creditors
1,565
972
3,922
2,778
7. Average number of persons employed
During the year the average number of employees was 1 (2022 : 1)
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